According to fresh statistics, Bexhill-on-Sea is the new supply hotspot for Great Britain, with nearly double the number of new properties coming to the market compared to the same period last year.
The number of new listings in Bexhill-on-Sea in East Sussex is up 88 per cent on January 2021. The research also revealed that the seaside town, where average house prices are £342,265, has also seen a 13 per cent increase in average asking prices year-on-year while the average time to find a buyer is taking just over a month (35 days).
The research from leading property portal Rightmove found that High Peak in Derbyshire was the second on the list of new supply hotspots with the number of new properties listed for sale up 82 per cent while Chelmsford in Essex ranked third with new listings up 58 per cent.
New supply numbers in Chelmsford were closely followed by Burton-on-Trent in Staffordshire (+54%); Sutton Coldfield in the West Midlands (+37%); St Albans in Hertfordshire (+36%); Nuneaton in Warwickshire +32%; Shrewsbury in Shropshire (+31%); Leigh-On-Sea in Essex (+22%) and Bradford in West Yorkshire (+26%) making up the top 10 new supply hotspots.
Rightmove says it has seen the January seller rush gain momentum, with the number of new properties for sale in Great Britain up by 8 per cent in the last week of January compared to the same period in 2021.
On a regional basis, the East Midlands (+10%), South East (+10%), South West (+12), Wales (+10) and Yorkshire & The Humber (12%) all recorded an increase upwards of 10 per cent in new properties for sale in the last week of January compared to the same period last year.
This new batch of sellers is coming to market against a backdrop of high buyer demand that Rightmove experts predict will last through 2022. When compared to the same time last year, total buyer demand has increased by 35 per cent in the last week of January.
This activity is an early sign of a better balanced market to come in 2022 Rightmove data analysts say.
Rightmove’s Director of Property Data Tim Bannister said: “The market has picked up pace after a busy festive period, and it’s a really encouraging sign to see more properties start to come to market for sale. More new listings, coupled with the higher number of requests from prospective sellers to estate agents to value their home we are seeing, certainly suggests good news and positive signs we are moving towards a better balanced market in 2022.
“These new sellers will be met by plenty of eager buyers, as the data shows the number of enquiries for homes for sale is even higher than this time last year. This means that while rising numbers of new homes for sale will be very welcome, buyers will face stiff competition for available properties, and should act fast when a property they like comes onto the market.”